SITKF - Sitka Gold Announces up to $4.5 Million Private Placement with a Lead Order from Palisades Goldcorp
(TheNewswire)
V ancouver, Canada - TheNewswire - February 12,2021 - Sitka Gold Corp. (“Sitka” or the “Company”)(C NSX :SIG. CN ) (FSE:1RF) (OTC:SITKF) is pleased to announce a private placement forup to $4.5M with a lead order from Palisades Goldcorp Ltd. Thefinancing will consist of a combination of flow-through units pricedat $0.135 with a half warrant priced at $0.18 and non flow-throughunits priced at $0.12 with a full warrant priced at $0.18. Each fullwarrant will entitle the holder to purchase an additional common shareat a price of $0.18 for a period of 36 months from the date of closingof the private placement.
This privateplacement is being offered on a non -brokered basis and the Units will be subject to a statutoryhold period of four months and a day from the closing date of theOffering. Sitka has engaged Canaccord Genuity Corp. to act as itsfinancial advisor for the offering. The Company may pay a finder's feeon a portion of the gross proceeds of the private placement . The Offeringremains subject to regulatory approval.
The Company intends to use the netproceeds of the Private Placement for exploration work on its Arizona,Nevada and Yukon gold properties and for general workingcapital. The privateplacement is expected to close on or before March 3,2021.
About Palisades Goldcorp
Palisades Goldcorp is Canada's resource focusedmerchant bank. Palisades' management team has a demonstrated trackrecord of making money and is backed by many of the industry's mostnotable financiers. With junior resource equities valued atgenerational lows, management believes the sector is on the cusp of amajor bull market move. Palisades is positioning itself withsignificant stakes in undervalued companies and assets with the goalof generating superior returns.
About Sitka Gold Corp.
Sitka Gold Corp. is a mineral exploration companyheadquartered in Canada and managed by a team of experienced miningindustry professionals. The Company is focused on exploring foreconomically viable mineral deposits with its primary emphasis ongold, silver and copper mineral properties of merit. Sitka currentlyhas an option to acquire a 100% interest in the RC, Barney Ridge,Clear Creek and OGI properties in Yukon and the Burro Creek Goldproperty in Arizona. Sitka owns a 100% interest in its Alpha Goldproperty in Nevada, it’s Mahtin Gold property in the Yukon andit’s Coppermine River project in Nunavut. Directors and Managementown approximately 15% of the outstanding shares of Sitka Gold Corp., asolid indication of their alignment with shareholders’interests.
ON BEHALF OF THE BOARD OF DIRECTORS OF
For more information, please contact:
CEO & Director
Tel: 604-979-0509
Cautionary and Forward-Looking Statements
This news release containsforward ? looking statements and forward ? looking information within the meaning of applicable securitieslaws. These statements relate to future events or future performance.All statements other than statements of historical fact may beforward ? looking statements or information.Forward ? looking statements and information areoften, but not always, identified by the use of words such as“appear”, “seek”, “anticipate”, “plan”,“continue”, “estimate”, “approximate”, “expect”,“may”, “will”, “project”, “predict”, “potential”,“targeting”, “intend”, “could”, “might”, “should”,“believe”, “would” and similar expressions.
Forward-looking statements andinformation are provided for the purpose of providing informationabout the current expectations and plans of management of the Companyrelating to the future. Readers are cautioned that reliance on suchstatements and information may not be appropriate for other purposes,such as making investment decisions. Since forward ? looking statements and information address future events andconditions, by their very nature they involve inherent risks anduncertainties. Actual results could differ materially from thosecurrently anticipated due to a number of factors and risks. Theseinclude, but are not limited to, the expected timing and terms of theprivate placement, use of proceeds, anticipated work program, requiredapprovals in connection with the work program and the ability toobtain such approvals. Accordingly, readers should not place unduereliance on the forward ? looking statements,timelines and information contained in this news release. Readers are cautioned that the foregoinglist of factors is not exhaustive.
The forward ? looking statements and information contained in this news releaseare made as of the date of this news release and no undertaking isgiven to update publicly or revise any forward ? looking statements or information, whether as a result of newinformation, future events or otherwise, unless so required byapplicable securities laws or the CSE. The forward-looking statementsor information contained in this news release are expressly qualifiedby this cautionary statement.
Neither the CSE nor its Regulation Services Provider (as that term isdefined in the policies of the CSE) accepts responsibility for theadequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
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